SMSF Supervisory Levy
Are you?
– A trustee or a director of corporate trustee of a SMSF?
At a glance:
– Supervisory (super) levy applicable to self – managed superannuation funds (SMSFs) depends on the status of the fund.
You should:
– Be aware of what the super levy amount the SMSF is required to pay.
– Contact us if you require any clarification or advice.
The super levy is a fee charged by the Tax Office to every SMSF and is applied when the fund lodges its annual tax return.
The purpose of the super levy is to recover the Tax Office’s costs in regulating and assessing SMSFs.
The supervisory levy for the 2015/16 financial year is:
| Not newly registered | Newly registered | |
| Continuing fund | $259 | $518 |
| Winding-up fund | Nil | $259 |
Super levy is generally payable in advance. Therefore, newly registered SMSFs may pay double the super levy in its first year.
Remember:
– The super levy may differ for each financial year.